RE/MAX At The Lakes  Vonore: (423) 884-6448  Tellico: (865( 408-1616  Lenoir City: (865) 986-0074 

Skip Navigation

Types of Mortgage Loans

Fixed-rate mortgages:

Fixed-rate mortgages are those where the interest rate stays the same (fixed) for the life of the loan. Even if interest rates double, your payment stays the same. If interest rates drop dramatically, you may be able to refinance and take advantage of the lower rates.

Adjustable-rate mortgages:

Adjustable-rate mortgages are just that - adjustable. They typically have a low introductory rate that's guaranteed for a certain period of time; after that, your rate rises and falls along with interest rates in general. If you're considering an adjustable loan, it's vitally important to run the numbers and see what rising interest rates would do to your mortgage payment. There's never a guarantee that rates will stay low, and a dramatic increase could put you in a real bind. However, if you're only planning to stay in your new home for a few years, an adjustable mortgage may make sense for you.

Hybrid mortgages:

Hybrid mortgages have a fixed interest rate early in the life of the loan, shifting to an adjustable rate in later years. As with adjustable mortgages, it's important to do the math to see what rising rates will do to your payment.

Contact Information

RE/MAX at the Lakes
RE/MAX Preferred Properties, Inc.
10820 Kingston Pike Suite 14
Knoxville, TN 37934
Office:(865) 694-8100

Website Powered by Agent Blaze. Copyright © 2006-2020 All Rights Reserved. Agent Login

RE/MAX Preferred Properties, Inc. is licensed in the state of Tennessee. The Fair Housing Act prohibits discrimination in the sale, lease, or rental of housing, or making housing otherwise unavailable because of race, color, religion, sex, national origin, familial status, or disability. Each office is independently owned and operated. By registering on this website (providing your name and/or contact information) you are making an inquiry and are granting permission for an agent to contact you via telephone and/or email, regardless if you are registered with the national, state, or other Do Not Call list. The data relating to real estate for sale on this website is being provided for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumers may be interested in purchasing. This information is updated daily, however, some of these properties may subsequently have sold and may no longer be available. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision. Some or all of the listings on this website may not belong to RE/MAX Preferred Properties, Inc..